Year End Trading Update

RNS Number : 5413O

Zambeef Products PLC

02 October 2019

 

2 October 2019

Zambeef Products plc

("Zambeef" or the "Group")

Year End Trading Update

Zambeef (AIM: ZAM), the fully integrated cold chain foods and retail business with operations in Zambia, Nigeria and Ghana, is pleased to provide the following year end trading update.

The Group is pleased to announce that for the year ending 30 September 2019, adjusted Profit Before Tax* is expected to be at least 20 per cent. higher than market expectations and revenue to be in line with market expectations.

This improved performance is largely attributable to the better than expected performance from the cropping division, with yields on soya beans, wheat and maize, which comprise the main crops, exceeding budgeted figures.

The Group expects to report audited annual results for the year ending 30 September 2019 on 22 November 2019.

*Adjusted Profit Before Tax (PBT) is defined as being adjusted for any unrealised foreign exchange gains or losses and any losses or gains made from asset disposals.

For further information, please contact:

Zambeef Products plc	Tel:  [phone]
Francis Grogan, Chief Executive Officer
Faith Mukutu, Chief Financial Officer
Strand Hanson Limited (Nominated & Financial Adviser)	Tel: [phone]
James Spinney
Ritchie Balmer
Eric Allan
Finncap (Broker)	Tel: [phone]
Christopher Raggett
Powerscourt (Financial PR)	Tel: [phone]
Nick Dibden
Bethany Johannsen
Pangaea Securities	Tel: [phone]
Ceaser Siwale
Wendy Tembo

Notes to the editors

The Zambeef Group is one of the largest integrated cold chain food producers in Zambia, involved in the production, processing, distribution and retailing of beef, chicken, pork, milk, eggs, dairy products, fish, flour and stock feed. The Group also has large cereal row cropping operations (principally maize, soya beans and wheat), with approximately 7,973 hectares of row crops under irrigation, which are planted twice a year and a further 8,776 hectares of rain-fed/dry-land crops available for planting each year.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.

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